Spain’s annual inflation rate accelerated to 4.9% in September 2026, its highest level since March 2023, up from 4.3% in August and the 4.7% forecast, according to preliminary estimates. The acceleration was driven mainly by higher prices for fuel and lubricants for personal vehicles, which increased in September 2026 compared with a decline in the same month of 2025. It was also influenced by tour packages, whose prices fell less sharply than they did in September 2025. Compared to the previous month, the CPI rose 0.3%, following a 0.7% gain in August. Meanwhile, core inflation went up to 3.1% from 2.9%, reaching the highest level since March 2024. Considering the EU-harmonised CPI, annual inflation rate topped 5%, the highest reading since February 2023, compared to 4.6% in August. Compared to the previous month, the CI went up 0.6% after a 0.7% rise.